WE ARE IN DEEP, DEEP ECONOMIC S**T

[ATOMonkey]

I think necessities have intrinsic value. Shelter, food, clothing, all has some intrinsic value simply because it is necessary for life. Of course, anything above and beyond necessity begins to lose value.

 

[SemperFiUSMC]

I think necessities have intrinsic value. Shelter, food, clothing, all has some intrinsic value simply because it is necessary for life. Of course, anything above and beyond necessity begins to lose value.

Necessities have a different priority, but I'm not sure they have a higher intrinsic value. Is a sandwich more valuable than a Ferarri? No. A (proper) Ferarri could be traded for 100 lifetimes of sandwiches. On the other hand you may have to pay someone to remove a junk Ferarri (is there such a thing) from your property.

 

[ATOMonkey]

Yes, but certain things will always have value, because if you don't have them you die.

 

[thompal]

Necessities have a different priority, but I'm not sure they have a higher intrinsic value. Is a sandwich more valuable than a Ferarri? No. A (proper) Ferarri could be traded for 100 lifetimes of sandwiches. On the other hand you may have to pay someone to remove a junk Ferarri (is there such a thing) from your property.

A Ferrari only has value in certain situations. If you lose your job, while everyone else still has high paying jobs, a Ferrari can be an asset with value, since there are others who may want it, and who will have the ability to pay for it. If you had a sandwich, it would be virtually worthless.

If you lose your job, and everyone else does too, then your Ferrari is a liability and will have no value, since nobody else can afford it, and you still must make payments on it, and have insurance on it, which is going to be a constant drain on your resources, even if you don't drive it. More people may be willing to barter for your sandwich than for your Ferrari, since one has value to them, while with the other, they would just be assuming your liability.

 

[longbow]

My wife is bidding on alot of stuff on ebay as we speak, this could be the end of me!